Written question WQ85450
- Asked by
- Paul DaviesConservative
- To be answered by
- Minister for Economy
- Tabled
- Due
- Answered
- Time to answer
- 7 days
Question
Will the Minister confirm how many businesses have been supported by the Development Bank of Wales in the last 12 months and provide a breakdown of the amount invested in each business?
Answer
Answered by Minister for Economy
The Development Bank of Wales has completed another successful year, despite the challenges, lending a record £109.1m to businesses in 2021/22. 519 investments were made in more than 460 Welsh businesses and 3,540 jobs were created or safeguarded during the year across Wales.
Investments were well geographically distributed with £30.1 million invested in North Wales, £32.1 million in Mid and West Wales and £47 million across South East Wales.
For commercial reasons details of individual investments are not published, however, the average deal value was £210,276. The Development Bank has a broad and flexible finance offer to businesses of all sizes, across all business sectors and in all regions, including equity investments and loans ranging from one thousand pounds to ten million pounds - from short term through to 15-year loan terms.
The Development Bank published their results for 2021/22 on 15 June 2022. Case studies highlighting the broad range of businesses supported by the Development Bank are described in the Annual Report 2020/21 available on the website - Development Bank of Wales - Business finance for companies in Wales